Reliance Power terminates PPA for Tilaiya UMPP in Jharkhand

Reliance Power today announced that its wholly-owned subsidiary, Jharkhand Integrated Power Limited (JIPL), has terminated the Power Purchase Agreement (PPA) of its 3,960 MW Tilaiya Ultra Mega Power Project (UMPP) in Hazaribagh, Jharkhand.
 
Based on tariff-based bidding managed by Power Finance Corporation (PFC), Reliance Power was awarded the Tilaiya UMPP in February 2009. JIPL, the Special Purpose Vehicle (SPV) for implementing the project, was handed over to Reliance Power by PFC in August 2009. JIPL has signed a PPA with 18 power off-takers in 10 states for 25 years. For fuel security, the project was allocated Kerendari BC captive coal mine block.
 
According to a company press release, the PPA requires procurers to hand over the possession of the land for the power station and water intake pipeline by February 2010. Other development period obligations included issuance of notice under Section 9 of the Land Acquisition Act in respect of land for coal mines and fuel transportation systems. Besides, site clearance was required from the ministry of environment and forests (MoEF) for the coal mines.
 
“However, the required land is yet to be made available. Even the forest land in the power station area, for which the Stage-II Forest Clearance was accorded by the central government way back in November 2010, has not been handed over to JIPL till now. As regards the coal block, the land acquisition process is yet to get initiated, for which the application was submitted way back in February 2009,” the company said.
 
In spite of more than 25 review meetings and extensive and continuous follow-ups with the Jharkhand government over the last five-and-a-half years, the required land is yet to be made available. Based on the present estimates of the land handover process, it is estimated that the project cannot be completed before 2023-24, the company said.
 
“Considering all these facts, JIPL has decided to terminate the PPA with the procurers. This decision will reduce the future capex pipeline of Reliance Power by nearly Rs. 36,000 crore,” the statement adds.
 
Considering all these facts, JIPL has decided to terminate the PPA with the procurers. This decision will reduce the future capex pipeline of Reliance Power by nearly Rs 36,000 crore.

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Reliance Power terminates PPA for Tilaiya UMPP in Jharkhand

Reliance Power today announced that its wholly-owned subsidiary, Jharkhand Integrated Power Limited (JIPL), has terminated the Power Purchase Agreement (PPA) of its 3,960 MW Tilaiya Ultra Mega Power Project (UMPP) in Hazaribagh, Jharkhand.
 
Based on tariff-based bidding managed by Power Finance Corporation (PFC), Reliance Power was awarded the Tilaiya UMPP in February 2009. JIPL, the Special Purpose Vehicle (SPV) for implementing the project, was handed over to Reliance Power by PFC in August 2009. JIPL has signed a PPA with 18 power off-takers in 10 states for 25 years. For fuel security, the project was allocated Kerendari BC captive coal mine block.
 
According to a company press release, the PPA requires procurers to hand over the possession of the land for the power station and water intake pipeline by February 2010. Other development period obligations included issuance of notice under Section 9 of the Land Acquisition Act in respect of land for coal mines and fuel transportation systems. Besides, site clearance was required from the ministry of environment and forests (MoEF) for the coal mines.
 
“However, the required land is yet to be made available. Even the forest land in the power station area, for which the Stage-II Forest Clearance was accorded by the central government way back in November 2010, has not been handed over to JIPL till now. As regards the coal block, the land acquisition process is yet to get initiated, for which the application was submitted way back in February 2009,” the company said.
 
In spite of more than 25 review meetings and extensive and continuous follow-ups with the Jharkhand government over the last five-and-a-half years, the required land is yet to be made available. Based on the present estimates of the land handover process, it is estimated that the project cannot be completed before 2023-24, the company said.
 
“Considering all these facts, JIPL has decided to terminate the PPA with the procurers. This decision will reduce the future capex pipeline of Reliance Power by nearly Rs. 36,000 crore,” the statement adds.
 
Considering all these facts, JIPL has decided to terminate the PPA with the procurers. This decision will reduce the future capex pipeline of Reliance Power by nearly Rs 36,000 crore.

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Reliance Power terminates PPA for Tilaiya UMPP in Jharkhand

Reliance Power today announced that its wholly-owned subsidiary, Jharkhand Integrated Power Limited (JIPL), has terminated the Power Purchase Agreement (PPA) of its 3,960 MW Tilaiya Ultra Mega Power Project (UMPP) in Hazaribagh, Jharkhand.
 
Based on tariff-based bidding managed by Power Finance Corporation (PFC), Reliance Power was awarded the Tilaiya UMPP in February 2009. JIPL, the Special Purpose Vehicle (SPV) for implementing the project, was handed over to Reliance Power by PFC in August 2009. JIPL has signed a PPA with 18 power off-takers in 10 states for 25 years. For fuel security, the project was allocated Kerendari BC captive coal mine block.
 
According to a company press release, the PPA requires procurers to hand over the possession of the land for the power station and water intake pipeline by February 2010. Other development period obligations included issuance of notice under Section 9 of the Land Acquisition Act in respect of land for coal mines and fuel transportation systems. Besides, site clearance was required from the ministry of environment and forests (MoEF) for the coal mines.
 
“However, the required land is yet to be made available. Even the forest land in the power station area, for which the Stage-II Forest Clearance was accorded by the central government way back in November 2010, has not been handed over to JIPL till now. As regards the coal block, the land acquisition process is yet to get initiated, for which the application was submitted way back in February 2009,” the company said.
 
In spite of more than 25 review meetings and extensive and continuous follow-ups with the Jharkhand government over the last five-and-a-half years, the required land is yet to be made available. Based on the present estimates of the land handover process, it is estimated that the project cannot be completed before 2023-24, the company said.
 
“Considering all these facts, JIPL has decided to terminate the PPA with the procurers. This decision will reduce the future capex pipeline of Reliance Power by nearly Rs. 36,000 crore,” the statement adds.
 
Considering all these facts, JIPL has decided to terminate the PPA with the procurers. This decision will reduce the future capex pipeline of Reliance Power by nearly Rs 36,000 crore.

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